GIVE MISS CALL ON :- +91 99774 99927



Market drops in early trade.

Key indices dropped in early trade, extending yesterday’s sharp slide on selling pressure in index pivotals.The barometer index, the S&P BSE Sensex, was down 211.15 points or 0.56% at 37,822.99. The Nifty 50 index was down 64.05 points or 0.57% at 11,186.50.

The S&P BSE Mid-Cap index was down 3.02%. The S&P BSE Small-Cap index was down 3.67%.

The market breadth, indicating the overall health of the market, is weak. On the BSE, 227 shares rose and 1561 shares fell. A total of 66 shares were unchanged.

Stocks in news:

SBI fell 2.1%. SBI said that the Committee of Directors for Capital Raising accorded its approval to allot 70,000 Basel III compliant Non-convertible, Taxable, Redeemable, Subordinated, Unsecured, Fully Paid-up Debt instruments in the nature of debentures qualifying as Tier II Capital of the Bank, of face value of Rs 10 lakh each, at par, bearing a coupon of 6.24% p.a. payable annually for a tenor of 10 years with call option after 5 years and on anniversary dates thereafter, aggregating to Rs 7000 crore to Bond Subscribers.

Aarti Drugs rose 2.23%. Aarti Drugs has fixed 1 October 2020 as the record date to determine the eligible shareholders entitled to receive the bonus shares. Earlier, the company had recommended issue of bonus shares in the ratio of 3:1 i.e. 3 bonus shares for 1 share held.

CEAT fell 0.79%. CEAT said that the meeting of the Board of Directors of the company is scheduled on 25 September 2020 through audio-visual means, to consider and approve the proposal for raising of funds through issuance of Non-convertible Debentures on private placement basis.

GMM Pfaudler slumped 10% to Rs 4,717. GMM Pfaudler said its promoter propose to sell 25.71 lakh shares through an offer for sale, floor price set at Rs 3,500 per share on September 22-23.

HSIL rose 2.87% to Rs 73.45. HSIL said its board approved buyback of up to Rs 70 crore worth of shares at Rs 105 per share from the equity shareholders / beneficial owners of the equity shares of the company (other than the promoters, the promoter group and persons in control of the company).

Shree Renuka Sugars rose 4.18% to Rs 9.23. Shree Renuka Sugars said that the Allotment Committee of the Board of Directors of the Company, has considered and approved the allotment of 21,16,70,481 equity shares of Re. 1 per share, for cash at a price of Rs 8.74 per share aggregating to Rs. 185 crore on preferential basis to Promoter, Wilmar Sugar Holdings Pte Ltd.

Global Markets:

Overseas, Asian stocks are trading lower on Tuesday, as Hong Kong-listed shares of HSBC and Standard Chartered continued to see declines following a Monday drop. Markets in Japan are closed on Tuesday for a holiday.

In US, stocks fell on Monday as fears about the potential worsening of the coronavirus pandemic, as well as uncertainty on further U.S. fiscal stimulus, rattled traders.

Concerns over another wave of coronavirus cases came as the U.K. reportedly considers another national lockdown to stop an increase in infections. Bank stocks also contributed to the broader market drop after a report found that a number of global banks moved allegedly illicit funds.

Back home, domestic shares tumbled across the board on Monday as dismal global cues and rising COVID-19 cases triggered profit selling. The barometer index, the S&P BSE Sensex, fell 811.68 points or 2.09% at 38,034.14. The Nifty 50 index lost 254.40 points or 2.21% at 11,250.55.

Foreign portfolio investors (FPIs) sold shares worth Rs 539.81 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 517.95 crore in the Indian equity market on 21 September, provisional data showed.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Leave a Reply


Ouch! There was a server error.
Retry »

Sending message...


CapitalStars FORUM